Being an entrepreneur can often be mentally taxing. Not only that they would have to constantly dance with uncertainty, but they would also be held responsible for any decision they make. Often, we find that entrepreneurs work on their projects the most and have to develop skills in multiple facets of operating a business. On top of developing the idea, they also need to develop management, finance, marketing and human relation skills.
In spite of everything, the research concluded that entrepreneurs are happier and healthier than other people. How is this possible? An article from The Conversation conducted a systematic review of studies covering the past 50 years, looking at the highs and lows of being an entrepreneur. And here are their findings:
Economists assume that entrepreneurs bear all the stress that comes with their work because they expect a higher reward for their effort in the future. But in fact, they earn less than if they work as an employee. However, entrepreneurs prioritise happiness and autonomy over financial success.
That is not to say that high and intensive workload and financial issues are not their top priorities. But some of these issues, that requires more attention, might eventually lead to a positive outcome. And entrepreneurs see these problems as challenges and converts them into something positive.
Autonomy is one of the main reasons why entrepreneurs to start their projects. But too much autonomy can be overwhelming. The number of decisions that entrepreneurs need to make and the uncertainty that they have to bear can be too taxing on their mental health. Coupled with their intensive workload, they often don’t have time to think much about their decisions.
Successful entrepreneurs often possess certain personalities such as self-belief or emotional stability as these contribute to their overall well-being. However, fret not! You will be glad to know that these traits can be developed. As you continue being an entrepreneur you’ll eventually develop the traits that other successful entrepreneurs developed.
It is undoubtedly demanding and challenging being an entrepreneur. On top of that, their competitive nature can make some entrepreneurs completely immersed in their work. However, doing so for an extended period can damage one’s body. Thus, it is imperative to master the fine art of balancing work and health.
Ensuring their well-being can further motivate entrepreneurs to not give up on their ideas. They can also recognise opportunities and be more effective at their work. Furthermore, their happiness and well-being are also the happiness of their family and friends. At the end of the day, you cannot undermine the importance of your well-being, especially if you’re an entrepreneur. Entrepreneur’s well-being matters.
Stephan, U. (2018, June 22). How entrepreneurs have the most stressful – yet most satisfying – jobs. Retrieved from The Conversation: https://theconversation.com/how-entrepreneurs-have-the-most-stressful-yet-most-satisfying-jobs-95018#:~:text=Highly%20stressful,of%20the%20entrepreneurs%27%20stress%20list.